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What You Need to Know about Alibaba as Jack Ma Steps Down

Alibaba (BABA) recently announced that its cofounder and China’s (MCHI) (FXI) richest man, Jack Ma, would be exiting his position as chair to dedicate more time to education philanthropy through the Jack Ma Foundation. The role will be taken over by the company’s CEO, Daniel Zhang, in September 2019. Ma became not only the face of Chinese e-commerce giant Alibaba but also one of the most charismatic and influential men in the global industry.